AUGUST 4, 2011

New York GP talk resurfaces

With the United States GrandPrix in Austin set to bring Formula One back to America next year, talk of a second US race in New York has begun again.

It has long been understood that F1 boss Bernie Ecclestone would like to see two US races on the calendar, and news has emerged of a group looking to stage a race in the New York City area.

A joint statement by Weehawken, NJ mayor Richard Turner and West New York, NJ mayor Dr. Felix Roque says that they have entered into discussions that would see an F1 race staged along the shoreline of the Hudson River - with the skyline of mid-town Manhattan as the backdrop - as early as 2013.

The mayors stated, “In these uncertain economic times when every direct and indirect revenue source is vital, our own Formula One race could be a very positive boost to our citizens. The investor group has already told us that our towns would be substantially compensated annually."

“The race is expected to make use of Boulevard East and River Road on the waterfront with Manhattan in the background.”

The group behind staging the race is led by Leo Hindery, Jr., a businessman who was previously CEO of AT&T Broadband and led a division of Global Crossing before founding the YES Network, the largest regional US cable sports network, which broadcasts include the New York Yankees baseball team.

Hindrey, who currently runs a New York-based private equity fund, InterMedia Partners, said, "We are thrilled about the possibilities associated with our discussions to bring Formula One racing to New Jersey, and we’re grateful for the mayors’ consideration. We are fully committed to an open public process, which will include dialogue with residents, elected officials and other key stakeholders."

Hindrey is no stranger to motorsport, having been a competitor in the North American Ferrari Challenge series and the American Le Mans Series, as well as winning the GT2 class in the 2005 Le Mans 24 hour race.

There have been several failed attempts to host a race in the New York area, from an early attempt to hold a race in Battery Park in lower Manhattan in the 1980's, to last year when a proposal to hold a race at Liberty State Park was withdrawn after public protest.